Strategic Clean Energy Alliance Emerges: India’s 500 GW Clean Energy Base and Critical Minerals Drive India–Canada CEPA Push

India and Canada are preparing to fast-track negotiations on a high-ambition Comprehensive Economic Partnership Agreement (CEPA), with clean energy, critical minerals and emerging technologies positioned as core pillars of future cooperation, Union Commerce and Industry Minister Shri Piyush Goyal said while addressing the Indo-Canadian Business Chamber in New Delhi on Monday.

Goyal underscored that India sees “significant collaboration potential” with Canada across clean energy, nuclear energy, critical minerals and supply-chain diversification — areas that are rapidly becoming central to the global energy transition. He noted that India’s expanding renewable energy base, supported by a strong STEM talent pool and emerging tech capabilities, makes the country a natural partner for Canada’s energy and mineral ambitions.

Clean Energy at the Center of Bilateral Growth

Highlighting India’s growing energy resilience, Goyal said the country’s national power grid currently stands at 500 GW — half of which is clean energy capacity. India aims to double this to 500 GW of clean energy alone by 2030, positioning itself among the few democracies capable of delivering 24×7 clean power at competitive global rates.

He emphasised that this clean energy expansion strengthens India’s readiness for AI-enabled infrastructure and opens large opportunities for Canadian investors, particularly in renewable energy projects and energy storage.

Critical Minerals, Nuclear & Emerging Tech: Key Synergies

Calling India and Canada “natural allies”, Goyal noted that Canada’s mineral strengths and India’s processing and manufacturing capabilities create strong complementarities. The Minister identified critical minerals, nuclear energy collaboration, and next-generation technologies — including AI, quantum computing, machine learning and advanced data centres — as strategic growth areas for both countries.

CEPA Negotiations to Accelerate

Referring to the recent meeting between Prime Minister Narendra Modi and Canadian Prime Minister Mark Carney at the G20 Summit, Goyal said both leaders agreed to accelerate CEPA talks with the goal of doubling bilateral trade by 2030. The proposed agreement, he said, will deepen investor confidence and provide a structured framework to address trade issues with mutual respect.

Stronger Investment Flows Expected

Goyal appreciated the increasing interest of Canadian pension funds and energy companies in the Indian market. He said the countries will revive business-to-business engagement and explore two-way business delegations following the seventh Ministerial Dialogue held earlier this month.

India’s Economic Outlook Remains Robust

The Minister highlighted India’s transformation from the “Fragile Five” to one of the world’s top economies, pointing to low inflation, strong banking systems, high forex reserves and a rapidly expanding capital market. India is expected to become the world’s third-largest economy within 2–2.5 years, he added.

Five-Point Strategy to Deepen Partnership

Goyal proposed a five-pronged roadmap for stronger India–Canada collaboration:

• Turning dialogue into measurable outcomes
• Revitalising the CEO Forum to boost private-sector ties
• Encouraging Canadian participation in India’s upcoming AI Summit
• Scaling joint innovation, supported by India’s USD 12 billion R&D fund
• Targeting key sectors including clean energy, critical minerals, aerospace, defence and Make in India manufacturing

Calling for deeper collaboration, Goyal said Canadian innovation paired with India’s scale and capabilities can unlock significant opportunities. He invited Canadian companies to partner in India’s journey towards becoming a developed nation by 2047, describing India as a “stable, transparent and opportunity-rich” economy for long-term clean energy and technology investors.